Shufro Rose & Co. LLC Sells 5,500 Shares of Raytheon Technologies Co. (NYSE:RTX)

Shufro Rose & Co. LLC cut its holdings in shares of Raytheon Technologies Co. (NYSE:RTXGet Rating) by 58.1% during the first quarter, Holdings Channel.com reports. The firm owned 3,971 shares of the company’s stock after selling 5,500 shares during the period. Shufro Rose & Co. LLC’s holdings in Raytheon Technologies were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Raytheon Technologies in the fourth quarter worth $1,277,246,000. Capital Research Global Investors raised its holdings in shares of Raytheon Technologies by 13.4% during the fourth quarter. Capital Research Global Investors now owns 59,603,906 shares of the company’s stock worth $5,129,511,000 after purchasing an additional 7,030,375 shares during the last quarter. Capital World Investors raised its holdings in shares of Raytheon Technologies by 48.5% during the fourth quarter. Capital World Investors now owns 6,874,082 shares of the company’s stock worth $591,583,000 after purchasing an additional 2,244,470 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Raytheon Technologies by 33.1% during the fourth quarter. Alliancebernstein L.P. now owns 8,879,745 shares of the company’s stock worth $764,191,000 after purchasing an additional 2,210,486 shares during the last quarter. Finally, Eaton Vance Management purchased a new position in Raytheon Technologies in the fourth quarter valued at $162,515,000. 79.56% of the stock is currently owned by institutional investors.

Raytheon Technologies Trading Up 0.3 %

NYSE RTX opened at $93.03 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.10 and a debt-to-equity ratio of 0.43. Raytheon Technologies Co. has a 52 week low of $79.00 and a 52 week high of $106.02. The stock has a market capitalization of $137.36 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The firm has a 50 day moving average of $93.78 and a two-hundred day moving average of $95.50.

Raytheon Technologies (NYSE:RTXGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. Raytheon Technologies had a net margin of 6.84% and a return on equity of 9.48%. The company had revenue of $16.31 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that Raytheon Technologies Co. will post 4.68 EPS for the current fiscal year.

Raytheon Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, August 18th. Raytheon Technologies’s dividend payout ratio (DPR) is presently 73.58%.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. Cowen lifted their price objective on shares of Raytheon Technologies from $115.00 to $120.00 in a report on Wednesday, April 27th. StockNews.com raised shares of Raytheon Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Argus lifted their target price on shares of Raytheon Technologies from $100.00 to $112.00 in a research report on Wednesday, April 27th. Vertical Research dropped their target price on shares of Raytheon Technologies to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, Cowen boosted their price target on shares of Raytheon Technologies from $115.00 to $120.00 in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.10.

Raytheon Technologies Company Profile

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Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

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Institutional Ownership by Quarter for Raytheon Technologies (NYSE:RTX)

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